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cliff. business groups and lawmakers are still bickering. the dow jones lost 43 points to close at below 13,000. the s&p fell three points and the nasdaq only came only a few points. >> is beginning to look a lot like christmas with the white house. with the capitol christmas tree and washington d.c.. the 65 ft. sprues came from the white river national forest in colorado. they spent this morning installing it with a approximately 5000 ornaments. and it will be led by john boehner next month. >> coming up in sports the san jose basketball takes on the no. 10 team in the country. and smith, kaepernick, kaepernick course met the 49ers continues. what are bought and of course gary, next. music's, ready ! share the harmony... she'll be here soon ! she'll love this ! share a sweeter welcome... hey, hola, cómo estás ? hello, hey everyone. es un pla-cer co-no-cer-te. encantada. share everything. this holiday get verizon's share everything plan. unlimited talk, text and shareable data... ... across your family's devices, all in one plan. get a droid razr m by motorola for $49.99. phil (male an
or another, that's about all i hear on this fiscal cliff business, and you know what? what about spending cuts which is the true source of the deficit problem along with anemic economic growth. and here's one. we just got confirmation that the latest fiscal numbers from the treasury department show the federal government ran up more red ink in october than it did the year before, and guess what? spending went up double digits from the year before. what a surprise. but the white house got one thing right today. it released a study showing that a massive year-end tax hike would kill consumer spending by $200 billion, right. so let's not raise taxes. and in addition to all of this, the joint chiefs of staff is apparently drawing up plans to keep 10,000 u.s. troops in afghanistan past the 2014 deadline. this break a president obama promise, but some promises are made to be broken, and i think this is probably a good move. but first up congress back at work tonight after the holiday recess with now just 35 days to go. are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington
billion over just the next decade. obamacare. so far so good. the fiscal cliff negotiations under way. business leaders go to washington meeting republican and democratic house leaders. but is what is good for business really good for the country? the "a-team" next. the government tracking terrorists, criminals, and students. a texas school district wants to attract their students. big brother not a big hit with the students. protests are up in egypt over president more seize power grab. will the united states sit by quietly as he makes his move to become their leader? and is sure real law next? acclaims dollar middle east expert joining us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 ml350 for $599 a month at your local mercedes-benz dealer. heartburn symptoms causedelieve by acid refl disease. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pai
are not pulling the trigger to by the german robot. >> the prospect of falling off the fiscal cliff frightens more than just greenblatt. numerous business owners across the country are withholding investments in choosing not to hire new workers. that is because numerous tax advantages expire at the end of the year, and at the same time, the federal government looks set to drastically cut spending. experts say the results will be dramatic. >> if we go off the fiscal cliff, we then have an immediate recession in the united states. of course, that extends to all of the world because we are still the biggest market in the world. >> now it is up to politicians in washington to find a solution. no easy task, considering the partisan divisions in congress. the democrats who control the senate do not want cuts to social benefits. the republicans who form a majority in the house of representatives are opposed to tax hikes. time is running out. both democrats and republicans have indicated a willingness to compromise, but business owners are skeptical. and many american business people are very concerned th
the "fiscal cliff." he is meeting today and tomorrow with small business owners and middle class families and he will visit a small business in pennsylvania on friday. negotiations with republicans continue behind closed doors. a democratic senator says his side is willing to discuss reform of medicare and medicaid. >> the math just doesn't work anymore. not because the programs are bad but because thank goodness we're living longer. >> republicans are signalling they're open to compromise but so far, they still oppose the president's idea to raise taxes on the wealthy. instead, republican leaders want to limit tax deductions and loopholes without an agreement. across-the-board tax hikes will take effect on january 1 without an agreement. here's a breakdown of what would happen. for households earning 20 to $40,000, the tax increase would be $1,200. for householder, 40 to $64,000, the tax hike would be $2,000. and with those incomes of $64,000 up to 6 figures, it would be a $3,500 tax increase. >>> it's not all dire economic news. retailers are still looking for workers this holiday seaso
later. >>> okay. 4 days from the fiscal cliff. we wanted to find out whether citizens and business owners are happy with the way their elected representatives are handling this looming threat. >> chief washington correspondent john harwood kicks off our "rise above" road trip with a trip to john boehner's home state of ohio. what are his constituents saying about the situation? >> they're worried about it, michelle. the fiscal cliff is an abstraction to some degree here in washington. they're just behind me at the white house. representatives are meeting with white house officials now. in southwest ohio, john boehner's district north of cincinnati, a tip back into recession would bring very real economic pain. >> oh, i thought -- you did that so well, john. i thought you were leading up to a tape soof some kind. >> i was leelding ileading up f some kind, it's not rolling. >> you fooled them. representatives go back to their home states during a thanksgiving holiday. do you think they got an earful? get something done, compromise, do something, or stand your ground. what do you thi
. >>> on to our top story tonight, president obama ups the ante on fiscal cliff pressure meeting with small business owners from all walks of live at the white house today. the million dollar question? what will be the real impact on small businesss? with me now, straight from that meeting in a fox business exclusive is the cofounder of book to the roots, an urban mushroom farm growing gourmet business. wow i have to ask yyu a lot about that because i don't understand that. i will ask you first, what happened at the meeting? what did you guys talk about and what was the response you got. >> yeah, thanks for having me on. it was an incredible opportunity. it was really fun room. cool to see the energy and passion in the room. it was 15 small business owners along with the president and i think he asked us to share our stories and how we got to where we are today. he kind of explained a little bit about his vision for the economy and where he thinks it is going. and thoughts about what is top of mind for us about the economy. melissa: so what did you say and did you feel like he listened to y
to the white house and discuss the fiscal cliff. the president instead is going to meet with small business owners, ceos, and friday he heads out to suburban philadelphia to sell his position on taxes. republicans meanwhile are saying, look, it's time to start a deal. >> it seems like our friends on the other side are having some difficulty kind of turning off the campaign. we need to sit down and work this matter out. >> we are all here, those of us in the administration and those who have been elected to congress, to serve the american people, so to suggest that we should now that the election's over stop talking to them about these vital issues, i think, is bad advice. >> reporter: republicans will be selling their positions themselves. the house leadership aide says house republicans will visit local small businesses around the country to emphasize the threat to jobs posed by congressional democrats, small business tax hikes. the election may be over, but it sounds an awful lot like it did before the election. back to you. liz: we need to see more action. rich, thank you very much. davi
in fiscal cliff discussion as far as being businesses that it is part of being an integrated structure being funded by the government to keep them in tact. guest: infrastructure? is that the case here? caller: correct. guest: if you look of the way that we're talking about that kind of investment, it comes down to whether or not government spending or government's investment in those industries are for the greater good. obviously, there have been times in industries when massive amount of spending on things like structural projects have gone a long way towards improving economy. right now, what is happening in china, it is the same thing. they are investing heavily in infrastructure, roads, roadways. if you look at the way those investments can pan out, whether or not it is private investment will be a huge part of utilities, infrastructure, that will be a hotly debated topic and will speak to whether or not this country needs a huge amount of stimulus with regards to spending in that way. what we do know is we have had a lot of spending before during the depths of the financial crisis seem
to "power lunch." it is a fiscal cliff faceoff. president obama meeting with small business leaders at the white house this afternoon to make his case for higher taxes ahead. we will also go to the home state of a kai player in tey pl talks. >>> the chevy volt struggling to work with car makers aed car buyers. why is general motors doubling down with its big bet in electric and has it jumped its sales? >>> facebook stock up 10% in the past week and 30% the past two months. has it finally turned a corpser? >>> speaking of corners, we have switched corners, tyler, the gentleman that he is, is braving you the snow and the ice in new york city and he is down on the floor of the new york estock exchange. >> a mucky day. not since 2008 has it been so high. more evidence the housing recovery is taking root. prices rising in the big cities but a warning we may head into a recession next year if the u.s. and europe don't solve their fiscal messes. right now the dow industrials a built of a breather down 21 points. >>> meanwhile, 34 days to the fiscal cliff. will a deal be done in time? today
board room a lot of hammering over the fiscal cliff. some 35 days away now. business leaders are calling for action. listen to this plea from the group the business round table. >> america's ceos have a message for washington. >> top priority for us is to advance policies that will get the u.s. economy growing again. >> the country has to have a higher rate of growth. that begins with addressing the fiscal cliff issue. >> so, bipartisan bottom line, right? not quite. you see those business leaders have a vested interest in which spending should be cut and which loopholes closed. and let's just say what's old is new again. alison kosik is at the new york stock exchange with a closer look. put this in language we can understand as people who are not ceos. >> many of these high-level ceos, carol, are part of this movement, this campaign to fix the debt we've been hearing so much about. this includes some of the biggest heads of business that are out there. and some have been more outspoken than others when it comes to what needs to get done to get a handle on the deficit. it also has a lot
this past weekend talking about the fiscal cliff. i don't think you can appear to small business in this environment and not be part of the discussion. he's meeting with small business owners today. i believe he'll travel some. he's going to take this case to the american people. you know not that he should really have to. he took this case to the american people. this was the entire discussion. >> bill: totally. >> was about how we balance our need for more revenue for some spending cuts but also with investments that grow the economy. and you know, i always get back to this. we've had these -- 16 years of experiments here, the clinton experiment the bush experiment, we know what works. we know what didn't. republicans want to keep doing what didn't work. >> bill: let me ask you this. about 30 seconds here. so you won the election. now what's the dnc do? what's your next agenda? what's your next priority? >> we will -- of course, all of that is being sorted out right now. there is a decision still being m
for the fiscal cliff. this is what you need the here. at. >> i am robert gray with your stocks business brief. stocks are mostly lower with the senate majority leader harry reid said he was disappointed there was little progress in the fiscal cliff. the maps manager behind the maps program has reportedly been fired. rich williamson is the latest two have been given the acts. former software chief was pushed out late at last month. it is not clear if apple has found a replacement. taking a bite out of the smart phone market overtaking and trade the 12 weeks leading of the halloween more than doubled from one year-ago the market share exceeds 40%. now we continue countdown to the closing bell with liz cllman. liz: looking at the markets at the low the session the nasdaq s&p each down five points we're not trying to of view but it could cause havoc 34 days left for congress to reach a budget deal other wise spending cuts kick and. and tax hikes. we have decided to talk to state leaders what they're doing with this uncertainty. governors on the edge joining us now delaware governor, a great to ha
campaigning. he is campaigning on dealing with the fiscal cliff. he will travel to pennsylvania and meet with small-business owners as the pressure republicans to extend tax cuts for people that are in less than two and a $50,000. he will be meeting with these business owners and middle class residents. >> new video coming in from cairo. look at all of the tents that are set up. this is a mass rally against a decree of begins the new president. this demonstration is just after he stated that he had a meeting with judges that was aimed at the worst political crisis in june. there are marches across the capitol and this is the center of a protest that is about the numbers and it is expected to swell. >> we will be right back as we continue. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we mu
the fiscal cliff. we have tracie potts with details from washington. >> reporter: today, president obama meets with small business leaders. a new white house economic report warns if tax breaks go away, the average middle class family will owe uncle sam $2,200 next year. >> middle class families should see an extension of the tax cuts. >> reporter: some republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we have been open to revenue by closing loopholes as long as it is tied to spending cuts and pro-growth tax reform that broadens base. >> you don't raise rates. you cap the amounts of eitemize deductions. >> reporter: america is borrowing too much money trying to keep social security and medicare afloat. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> this congress is already one vote away from avoiding the fiscal cliff. >> reporter: and no word yet on when the next white house meeting will happen. tracie potts, nbc news, washington. >>> thank you. the governor of new
, and businesses tend to be more worried about things like the fiscal cliff, they're more worried about the troubles in europe, they're more worried about the slowdown in china. you do have the disconnect. the big concern is which way is it going to go? who is going to win this tug-of-war? so far it's the consumer but let's hope it's not the other direction because as i said, let's hope that the businesses will eventually come around to thinking about things the way consumers are. . >> brown: nancy cohen, i want to come back to you on the question of online shopping and the changed landscape. does the rise of online shopping have a real impact on the economy or is it sort of shifting, transferring, where people buy their things? >> well, that's a very open question, partly because this is so new. the marriage and the magic of online plus brickes and mortar. i mean, there's no question people are visiting online web sites more often than they do stores. whether that adds up to incremental organic growth is a question we just don't know. remember, we're starting with all online sales from
like he is still campaigning. to make the public case for strategizing the fiscal cliff. friday he will be meeting with business owners, small business owners. at the white house today the president will meet and tomorrow with middle-class americans. >> an 18 year-old accused of killing a man and injuring and police officer will be arraigned this week. here is a video of the other suspect in this case who was in court last wednesday. there china find a connection between the two. both are being held for murder, armed robbery, and attempted murder of a police officer. the drama of a 14 year-old boy charged as an adult with attempted murder sexaul assault and kidnapping of a 65 year-old woman has been postponed. caviar king was scheduled to be arraigned in court yesterday. authorities say he of the to the woman at dusk force to drive several miles away where he assaulted and beat her before leaving her in a ditch. police described attack as random. >> the two leaders will be remembered today. the commemoration will have two parts of the ceremony on the steps of city hall at 430 this
of the economy, the fiscal cliff, and taxing the rich. >>> and actress scarlett johansson talks about the oscar buzz surrounding her new role in "hitchcock." >>> and now keep it on this channel for continuing local news, weather, sports, and more. i'm lynn berry. thanks for watching "early today," just your first stop of the day, today on your nbc station. have a good one.
fiscal cliff plan. that is the latest from the fox business network, giving you the power to prosper melissa: so even if lawmakers and the white house do reach a deal to raise tax rates on the nation's top income earners will that significantly cut into our nation's huge debt problem? check this out for some context. during the 201 fiscal year, it costs nearly $9.7 billion a day to run the federal government. oh. the additional revenue from ending the bush-era tax cuts would average $82 billion a year. so that is enough money to run the government for eight and a half days. lori: cue outrage. >> well, the math is very simple. all we have to do is figure out the other 357 days. i don't see what the big deal is. lori: got to be spending cuts, right? this is the crux of the matter. taxes are frustrating and i understand your point but can't come without cuts. >> we've been talking about the fiscal cliff for a very long time. we've been warned of it amply. we've talked about it in detail. the reality right now we're going to find out how smart this president is, how smart the republicans
from avoiding the fiscal cliff for middle class families and small businesses. >> republicans point to a study done by the winston group which is a republic research firm which says 65% of americans back tax reform and spending cuts over raising taxes, shep. >> shepard: we are hearing now that house republicans are planning to meet with ceos up on the hill a day after tomorrow. >> top ceos and top fiscal experts two weeks after president obama essentially did the same thing. the ceos of etna inc., honey well international and irskin bowles are amongst those scheduled to attend. half the bowls simpson deficit planned and laid out own formula to save $2 trillion. it is clear republicans like his ideas which would generate $800 billion in revenue through tax reform. meanwhile so much tax reform about allowing the bush tax cuts to allow the wealthy tox expire cost $9.69 billion a day to run. estimated additional revenue from allowing the bush tax cuts to expire would generate an average of $82.4 billion a year. so the money saved would run the government for 8 and a half days, shep. >>
and harry reid over the weekend about avoiding the fiscal cliff. the president will meet with small business owners today. tomorrow he meets with middle class americans who would be affected by tax hikes and more business leaders. friday he's going to travel to hatfield pennsylvania where he will give campaign style remarks to get support for congress to negotiate the right kind of deal. we are back with more steph after this. ♪ [ ♪ theme ♪ ] >> announcer: ladies and gentlemen, it's the "stephanie miller show." ♪ >> yahoo, it is the "stephanie miller show," welcome to it. 1-800-steph-1-2 toll free from everywhere. steven weber. he will be there nobody panic he will be right there. charlie pierce said some good stuff about the fiscal cliff and other things. this is going to be a fascinating discussion. the president playing three dimensional chess. told you so. >> never mind. >> never mind. >> corn? when did we book corn? [ laughter ] >> oh, you kids. i swear. all right, you know what? i think there's a little estrogen in the clubhouse. ♪ ♪ >> hi, jackie schechner. >> good morning
blitz this week highlighting his efforts to steer clear of the "fiscal cliff." he will first meet with small business owners at the white house today. at the other end of pennsylvania avenue, fellow democrat senator dick durbin will give what's being called a major speech laying out a case for a bipartisan deal. durbin's a member of the senate's gang of 8, four democrats and four republicans who have collaborated on ways to reduce the nation's debt for 2 1/2 year. democratic senator mark warner is also in the gang and says democrats are willing to put entitlements like medicaid and medicare on the negotiating table. >> the math just doesn't work anymore not because the programs are bad but because thank goodness we're living a lot longer. >> reporter: republicans are also signalling they are more open to compromise. they say they will agree to raising tax revenue by limiting deductions for the wealthy. >> without compromising our principles we recognize that while democrats don't run this town neither do we. >> reporter: but the two sides remai
-called fiscal cliff. also tomorrow, the president has another meeting with business leaders following the one he had prior to the thanksgiving holiday. so -- friday, as i think you know, he'll be traveling to montgomery county pennsylvania to visit a business to talk about the need to extend these middle class tax cuts because businesses around the country depend on america's middle class to whier -- to buy their products. as i think was effectively outlined yesterday and you read about in the report he co-produced, the impact of raising taxes on the middle class would be significant to our economy. without w that, i'll take your questions. [inaudible] >> does everyone know he's leaving? very sad. >> thanks, jay. two questions on fiscal cliff, a senator said talking about medicare and medicaid both of those conversations should not be part of the plan to avert the fiscal cliff. doesn't that complicate the president's position, he has talked about balance, talked about the willingness to put entitlements on the table as part of a package and he's got a leader from his own party saying that should
about the fiscal cliff and maybe this is where it's showing up. >> well, we'll be watching. we'll see. i know all of the ceos just want certainty. that's what they keep telling the white house. thank you much. the forgotten war, we're going to take a deep dive into the challenges and the changes in the u.s. relationship with mexico. >>> well, the foreign policy challenge no one is talking about and, by the way, it's one that's killed nearly ten times as many people as the wars in iraq and afghanistan combined. today we're taking a deep dive into the drug war in mexico and the u.s. role in it. a key focus of the meeting between president obama and mexico's president elect pena nieto. the merida initiative began under george w. bush and then mexican president calderon as an aid program to help mexico disrupt drug cartels and improve law enforcement. the u.s. helped train federal police and sent equipment to mexico including helicopters and patrol planes. the results, though, have not been encouraging. going back to the end of 2006 when president calderon ordered a massive crackdown, one pa
fiscal cliff president obama is taking his case to small business owners from across the country, meeting with more than a dozen at the white house, looking to avoid a year-end tax hikes and spending cuts. republican leaders will meet with a bipartisan group of former members of congress as list leaders as well as both sides hold the line on taxes. >> i'm willing to put revenue on the table to pay down debt and create a better economy but my democratic friends have to reform entitlements. what will make us greece is not raising taxes. what will make us greece is not fixing medicare, medicaid and social security. jon: white house press secretary jay carney says president obama will not give on extending current tax rates on wealthy americans. on entitlements carney says the president is open to changes except when it comes to social security. >> the president has long made clear that he is open to discussions about strengthening social security as part of a separate track. jon: so is the u.s. economy heading for a plunge over the fiscal cliff? with us now, associate editor and columnist fo
. >>> they are pushing to avoid the so called fiscal cliff looming at the end of the year. all week long they have meetings with small business leaders and on friday, the president will visit a toy track are you in virginia -- toy factory in virginia. he will continue to push tax cuts for middle income americans and letting them expire for people who make more than $250,000 a year. they coming up, more on hurricane katrina. they are asking for $42 billion in aid. that includes 9 billion to prepare for the next big storm. last month's storm flooded the subway train system, and knocked out power for days. >>> get ready, we are about to get hit with several storms which are taking aim on the bay area. live with how to prepare and what to prepare for, alex? >> reporter: well, good morning, the north bay is expected to get hammered by a series of storms and the residents are getting prepared an auction see the sand bags are being filled and they are making these bags for the flooding that is certainly a possibility with all the rain that is expected. lots of people will be stopping by here throughout t
be much worse because of the fiscal cliff. that's coming up later on the "closing bell." [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. >>> markets went to the lows of the session when senator majority leader harry reid started talking about the fiscal cliff and started sounding less optimistic about it all. bob, give us more details. >> a lot of debate about these reid comments. he did say there was little progress made on the fiscal cliff, but read more about what he said. he said, i'm extremely hopeful that the fiscal cliff issues can be resolved. he said, i don't believe the republicans are going to allow us to go over the fiscal cliff. a lot of parsing of these words. the dow did drop to 81 points on the low. we're now not far from those lows. we
. >>> president obama meets with small business owners today to promote his solution to the fiscal cliff. the deadline is now 35 days away. the president is holding more events tomorrow and friday. "new york times" reports this morning that a budget deal could reduce the tax deduction millions pay on their mortgage interest. nancy cordes is on capitol hill. good morning. >> reporter: good morning to you, charlie, and norah. the president and house speaker john boehner spoke by phone over the weekend. top aides in the house and senate tell us that negotiations at this point are just taking place between the president's staff and speaker boehner's staff. that's because any deal that involves raising tax revenue is going to face its biggest challenge in the republican-led house. top republicans returning from thanksgiving recess urged the president to make the first offer in fiscal cliff negotiations. and they expressed a new openness to raising tax revenue, if democrats agree to make cuts to strengthen medicare and medicaid. >> elections come and go. and when they g
in washington. the president's fiscal cliff campaign. live pictures of the white house are president obama will meet today with 15 small business owners. the first of a series of meetings this week as the administration puts the pressure on congress to make a deal. the "washington post" reporting the talks are accelerating between president obama and top congressional leaders, including john boehner who was on the phone with the president over the weekend. the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senato
to be affected by the fiscal cliff. he'll be meeting with small business owners today at the white house. tomorrow he'll be meeting with middle-class americans who will be affected by the tax cut. on friday we'll be going to pennsylvania to visit a small company. so, as well we talked about the goodwill that might exist between democrats and republicans to try to get something done. we're also now seeing a pressure campaign put on by the white house. >> and we've seen some major republicans come out and say they don't feel bound by the americans for tax reform pledge. most recently we have house majority leader eric cantor. do you believe that any more republicans will stick with this jump on board? >> well, zoraida, you know, republicans are certainly being clicked into a box at this point. in order to try to solve the fiscal cliff a lot of people are saying we're going to have to see tax cuts get raised. president obama and democrats would like to see that just on democrats alone. republicans, as you said, are starting to peel away from that pledge. however grover norquist is threateni
the fiscal cliff. this is shaping up to be the best cyber monday ever. sales are up 28 percent from last year. cbs reporter anthony mason found out the last few days have been busy. even during dinner time. >>> amazon.com's biggest shipping center in phoenix arizona is the size of 28 football fields. last cyber monday it's busyist day of the year, amazon processed 200 orders per second. amazon vice president craig says the company expects business this year will be even better. >> we've hired and are continuing to hire 50,000 seasonal workers to meet customer demand. we need to come up with a new word for busy. we've been on hyper drive. >> online sales jump more than 20 percent on black friday. and thanks giving it was shopping day this year. >> it started early. a retail analyst with ibm that monitors 500 online retailers says shopping was heavy throughout thanks giving day especially with i phones and i pads. >> people were driving during thanksgiving dinner time. >> i'm saying the i phone is now the new utensil. does it go on the right or the left of the fork, i don't know. >> anthony mas
, thank you very much. >>> the other big story falling off the edge of the fiscal cliff. it's up to them to stop $500 billion in automatic spending cuts as well as the tax hikes that would take effect. chief business correspondent ali velshi's joining us. the president today met with small business owners instead of members of congress. explain what is at stake for them if we go off the fiscal cliff. >> the president meeting with different groups of people. when he met with the ceos he got criticism from small business owners. tomorrow meeting with middle class taxpayers. you won't have heard of them. these are not the small business owners who run their income through their personal tax. they're not concerned about the increase in the tax on people making more than $250,000. these are people who are going to lose business if americans are poorer. so their general view -- or have to pay higher taxes -- their general view they don't want, they are enjoying a recovery now, they do not want congress and washington to do something that's going to affect their customer base, either who are re
house. did he get the answers he held for. cheryl: we continue our special series fiscal cliff survival kit. washington can't get it together, there are steps you can take to get your fiscal house to get a. fox business anchor tracy byrnes will be at missteps for you to take right now. dennis: he might be divided in any other line of work. he is still on 2 and 1/2 men after calling it fills the. gerri: job security coming up later in the hour. stocks every 15 minutes, nicole petallides. you have a lot every 15 minutes. let's begin. nicole: let's look at what is going on with the dow here. is nowhere near the 14,000 mark when we launched the network but we are at 13,000, not too far off of that level, the dow is down 3 to -- two points. you see the nasdaq and the sp have moved into the green slightly, talking about 0.1%, means there helping things along with names like intel and coca-cola and alcoa the names that have been pressuring the dow, hewlett-packard, american express, microsoft. big picture we're doing all right, yesterday lost 40 points so we're pretty much flat for today, talk
ground here in washington. as we negotiate a path back from the fiscal cliff, we should also recognize when democrats and republicans agree. we agree taxes should not go up for anyone making less than $250,000 a year. 97% of small businesses and 98% of middle-class families would benefit from that. with common ground in sight, we should be able to act today to avert the fiscal cliff for millions of families and businesses. even if we disagree on whether to extend tax breaks for the wealthiest 2% of americans, we should agree to hold the middle class harmless and do it today, do it mao. a single vote in the house of representatives would get the job done now. unfortunately, there's one obstacle standing between congress and a compromise: grover norquist. for years, no norquist has bulld lawmakers. his brand of ideological extremism has been bad for congress and even worse for the congress. so i was pleased to see republicans in congress distance themselves from norquist this week. i appreciate that etch have. and so do the american people. and i'm sure their constituents do. several rep
amazed that kids could do 12 pushups these days. meanwhile, week before we fall off the fiscal cliff at the conclusion of this year, lawmakers in washington are reaching out to the people who actually run businesses for help. molly henneberg joins us live from the white house today to tell us about the meeting at casablanca. >> good morning. any president has the bully pulpit and president obama intends to use it more and more, the white house says, to get across his message, his solution on the fiscal cliff. so today he will meet with small business owners here at the white house. tomorrow he will meet with middle class americans. and on friday, he'll make the public case for extending tax cuts on the middle class and raising taxes on families making more than $250,000 when he visits a business in pen opinion. the president's press secretary says on this highly charged issue, quote, public communication is essential. >> some of the lessons that we learned over the last four years have to do with always being mindful of the fact that engaging the public on these sometimes chewy polic
cliff. they'll also be meeting with business leaders this week. so we're seeing a two-prong strategy right now out of the white house. >> it starts moving in the realm of tinker toys you know it's getting very, very serious. we've seen some republicans, major republicans, come out the last few days saying they don't feel bound anymore by that americans for tax reform pledge that grover norquist pledge. most recently house majority leader eric cantor seemed to have a little wiggle room there. do you expect to see more republicans coming out here? >> the floodgates have certainly opened and i suspect we'll see more republicans talk about the need for resolution. we have a new cnn poll in the last 24 hours that show that if this is not resolved, that republicans will take a majority of the blame, and not president obama. so i think we will see more republicans start to break away from that pledge. but, on the other side, though, democrats are also going to have to come to the table, and do some compromise. we saw senate minority leader mitch mcconnell talk about it yesterday on the sena
owners at the white house today. piddocks was supporthe fiscal cliff is a combination of scheduled tax increases and spending cuts that economist predict was in the u.s. economy into a recession. >> we will be right back as the kron for morning news continues. off to developing stores are all falling. one is a police standoff on treasure island with a robbery suspect. also a possible officer involved should out in milpitas. a live look at the bay bridge toll plaza light traffic for now. welcome back. new consumer credit data shows that more americans are falling behind on their auto payments. particularly between july and september. back-to- school needs and other needs are putting a strain on consumers' wallets. of dropping seven approving in the overall auto world. there is a new hope of making the rounds on facebook is the status of dates that are judged users to copy and paste the message declaring they have the rights the material they pose and the profiles. it has people where it that facebook will use the pictures and status updates. facebook respond sang " anyone who uses faceb
over the fiscal cliff? you do have more polarization with business community. jamie dimon being the key man? >> certainly one of them. a lot of the business community is more down the middle given the two constituencies you just mentioned. >> we'll talk -- buffett had thoughts on that this morning that we'll get to in a few minutes. the case shiller home price report is out. which cities are making the fastest move to recovery? >>> also ahead, when it comes to the holiday shopping season, it appears men are the new women. we'll explain that argument. take one more look at futures here. we'll see if we get traction later on this morning when the opening bell rings in just about 16 minutes. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. thor gets great
everyone of one fact. this congress is one vote away from avoiding a fiscal cliff for middle-class families and small businesses. we can solve the greatest economic emergency facing the nation today if only the house would consent the senate-passed bill freezing -- freezing tax rates. as thomas jefferson said, "we should not put off tomorrow what we can do today." our legislation would give economic certainty to the middle class, protect important tax reductions for families and businesses, and restore balance by asking the most fortunate among us to pay a little extra to reduce the debt. also, the only bill with a chance of being signed into law by president obama. speaker boehner once again urges us to pass the house bill, extending tax breaks for millionaires and billionaires. the senate has already consider that bill and we rejected it on a bipartisan basis. for the speaker to say, bring it up, we are behalf. it was loaded down in this congress. -- it was voted down in this congress. the president has spoken. he will not sign until the mortgages our future to pay for handouts. i hope ho
the proposal the president has put forward to solve the fiscal cliff raises taxes on a million small businesses who employ 25% of the work force and an accounting firm has done a study has said if the president's proposal went into effect which is to raise taxes on the small businesses out there that it would cost us over 700,000 jobs and reduce take-home pay by 2% and reduce economic growth by 1.3%. what the president is proposing to do would hurt jobs and the economy, which is again, i ironic in that the president's only solution to solve our fiscal cliff issue is to raise taxes. in 2010, we had the same debate. the president said you shouldn't raise taxes in the middle of a weak economy. at the time economic growth was 2.4 through the first three-quarters. this year, 2012, that same number is 1.8%. the economy is weaker and slower today than it was in 2010 when the president said you shouldn't raise taxes in the middle of a weak economy. we believe that the president has to lead on this issue. it can't be about raising taxes on people who create jobs in this economy if it is about jobs and t
to get wealthy. do the 80% do particularly badly on the fiscal cliff? >> i would answer your question slightly different. i got to live the american dream. built a business from nothing to real size by providing what the consumer and the businessman wanted. i'm scared to death that america is losing that ability. we see it in the banking business where the american banking environment is much tougher to deal with than even the uk, british environment which is much more friendly to business. i'm afraid that as the government turns the screws on the large banks, they're going to destroy the regional and small banks which really drive the american economy. >> it's a tough sentence, and i know that you understand the small guys, because you work with them to become large guys. and then they're loyal to you forever. >> correct. >> i'm sure the same thing is going to happen in london. i want to thank vernon hill. remember, "it's fans, not customers." this is the right book for the right time. "mad money" is back after the break. thank you, vernon. >>> we always forget about alcatel lucent,
'll have to do it again. coming up, we have don peebles joining the program. fiscal cliff, tax policy and the state of business from a man with skin in the game as he makes his way to the table. "squawk" is coming back right after this. tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-800-433-9947. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and man
budget on sustainable fiscal path." coburn says too much of the fiscal cliff debate focused on increasing taxes when cuts and reform are needed. >> we can take all the revenue and it wouldn't the problem. the real answer is as we have a demographic shift that is coming. to entitlement program that increased benefit without increasing the taxes to pay for entitlement programs. they are interrupt essentially. >> that is a key point made by two former congressman chris cox and bill averager in "wall street journal" editorial who wrote "the actual liabilities of the federal government including social security, medicare and federal employees future retirement benefit exceed $86 trillion." the second ranking senate democrat is for addressing entitlements but not now. >> medicare and medicaid insure one-third of all americans. they represent about 20% of our budget. and they are a real challenge to us. because untouched unamended medicare will run out of money in 12 years. that is scary. >> though as the negotiations continue, durbin does suggest that obamacare is on the table. >> the only perf
's market headlines. fiscal cliff years made a comeback and strong retail sales are not enough to offset the concern. the dow closed down 42 points. facebook shares some otherbest in four months. two formerly bearish analysts upgrade their outlook citing increasing revenue from mobile ads. and as our own charlie gasparino first reported, mary schapiro stepping down as chairman of the sec. officially leave office on december 14th. she ran the securities regulator for nearly four years. president obama will appoint current sec commissioner to run the agency. all right. now to our top try. warren buffett support for raising taxes on the rich takes a controversy in its turn in an op-ed in today's new york times. the billionaire investor says let's forget about the rich in culture ridge. income is increased. forever for see investment of the charities. so buffett is on target with this. raising taxes on the rich actually have no affect on their investment behavior. let's bring in scott martin, chief investment strategist and founder and ceo of market 76. thank you for joining me. give me a re
people on the hill. >> reporter: that's right. be careful. gerri: thank you. with the fiscal cliff limning, the spotlight is not on the 90 percent of americans facing attacks it or the recession it might trigger but grover norquist, a frequent guest year. the anti-tax pledge many republicans signed. with more on this republican senator mike lee of utah. always good to see you. thank you for coming on. a growing number of republican senators who are dissing themselves from grover. take a look at this. the list goes on and on. will you back away from grover and his pledge? >> the pledge i made regarding taxes to that have to do with any one individual. what i'd made for my constituents, the voters of utah who elected me in part because i was willing to acknowledge of washington has a spending problem, far more than a revenue problem. voters in utah recognize the fact that when you raise taxes which economic growth. that is what we need the least right now. we need new growth, new jobs, and that is why i'm shying away from a tax increase. gerri: it's interesting because democrats keep
? >> a lot to resolve at that hearing. >>> we're counting down to the fiscal cliff. over a month to go before everyone's taxes go up. both sides set to meet with business leaders this week. the company will take his campaign on the road, too, as more republicans appear willing to bend on their no new taxes pledge. jon karl is in washington. even though the president has been calling congressional leaders, they haven't made enough progress for another face-to-face negotiation. >> reporter: there's no face-to-face meeting even scheduled now between the president and congressional leaders. but i can tell you that high-level talks with staff are intensifying, with time running out. and republicans are expressing a newfound willingness to compromise on that long-standing republican pledge never to raise taxes. >> the pledge was designed -- >> reporter: meet the anti-tax enforcer. the man behind the pledge. grover norquist. >> republicans who vote for a tax increase are rat heads in a coke bottle. they damage the brand for everyone else. >> reporter: ronald reagan was part of the first pledge. and
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